Ethereum Faces Another Major Drop
The cryptocurrency market remains under heavy selling pressure, with Ethereum (ETH) slipping below $2,000 for the first time in over a year. This key level has historically acted as strong support, making its breach a significant event for traders and investors.
Macroeconomic Headwinds Fuel Selloff
Concerns over the U.S. economic outlook are weighing on the market. The Trump administration’s policies, which focus on reducing government debt and enforcing trade restrictions, have sparked fears of a near-term recession. While the Federal Reserve may eventually cut interest rates, liquidity conditions remain tight, limiting potential market recovery.
Ethereum’s Next Target: $1,500?
With ETH firmly below $2,000, analysts predict further declines. The next significant support level is around $1,500, a price last seen in mid-2023. Without strong buying pressure, Ethereum could struggle to regain upward momentum in the short term.
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